102,460 research outputs found
Optimal taxation in an endogenous growth model with variable population and public expenditure
No full textIn this paper we analyze second-best optimal taxation in an endogenous-growth model driven by public expenditure, in presence of endogenous fertility and labor supply. Normative analysis shows positive taxes on the number of children, which are necessary to correct for congestion in the publicly provided input (such as education and healthcare), negative public debt. Results on capital and labor income taxation depend on whether the public input is optimally provided
Optimal Taxation, Critical-Level Utilitarianism and Economic Growth
No full textWe analyze tax policies in an intertemporal economy with endogenous fertility under critical-level utilitarianism, both from a positive and a normative standpoint. On the positive side, we analyze the effects of a change in the tax on capital income and on fertility, both separately and combined so as to keep the per-capita public debt constant. On the normative side, we characterize the first- and second-best optimal
tax structures, for both exogenous and endogenous labor supply
The impacts of fossil fuel subsidy removal on Bangladesh economy
No full textThis paper investigates how the removal of fossil fuel subsidy affects the welfare of a small, oil-importing country like Bangladesh. In doing so, an energy augmented Dynamic Stochastic General Equilibrium (DSGE) model is developed. The model is calibrated and simulated for the Bangladesh economy under three scenarios, and the results reveal that a 10 per cent reduction in fossil fuel subsidy results in an overall increase in household welfare by 0.36 per cent. However, complete removal of fossil fuel subsidy would increase welfare by 1.89 per cent. The results also show that the subsidy removal schemes improve the country’s fiscal burden. We highlight the fact that fossil fuel subsidy acts as a barrier to the development of renewable energy technologies in Bangladesh which can play a significant role in promoting the country's future energy security. So, the paper suggests that the government should use the revenue earned from the fuel subsidy removal to offer incentives to new electricity generators who would enter in the market planning to produce electricity with renewable technology. Following a revenue-neutral subsidy scheme, the government should also encourage the existing electricity generators to adopt renewable technologies in generating electricity
The Role of Captive Power Plants in the Bangladesh Electricity Sector
No full textCaptive power plants (CPPs) in many emerging and developing countries play a significant
role in the electricity sector. This is mainly due to unreliable electricity supplies from state-owned utilities and challenges in accessing the national grid, especially in remote and rural
areas. Integrating the captive capacity with the on-grid supply can improve resource
utilization in the electricity market. In this study, we focus on the role of CPPs in Bangladesh. We start by providing recent stylized facts and survey the experience of other countries. We
then use a dynamic stochastic general equilibrium (DSGE) model to examine the effects of allowing CPPs to sell their excess output to the national grid at regulated prices. We find that opening the grid to CPPs would reduce the industrial output and GDP due to pre-existing energy price distortions. We also show that the Bangladesh economy would become more vulnerable to oil price shocks if CPPs were connected to the national grid. We conclude that the government should not open the grid to CPPs yet. Instead, it should first consider alternative reforms, such as taking steps to reduce the price distortions and enabling a competitive market environment
The optimum growth rate for population under critical-level utilitarianism
No full textCritical-level utilitarianism, Economic growth, Population, D63, D90, J13,
Letter, [Author unclear] to Paulina T. Merritt
No full textHandwritten letter to Paulina Merritt from an unknown author, October 1, 1876.
Decarbonisation policies and energy price reforms in Bangladesh
No full textBangladesh electricity sector suffers from heavy subsidization of fossil fuels and regulated electricity prices. These interventions distort the fuel mix in electricity production, promote overconsumption of fossil fuels and slow down the low-carbon transition. As a signatory of the 2015 UNFCCC Paris Agreement, Bangladesh has pledged to reduce GHG emissions by 15% (of which 5% is unconditional) with respect to Business as Usual by 2030, yet its overall CO2 emissions are increasing. Urgent actions are needed for Bangladesh to fulfil its climate pledge. We use a fit-for-purpose Dynamic Stochastic General Equilibrium (DSGE) model to evaluate the effects of several decarbonisation policies, namely the implementation of carbon taxes and the removal of fossil fuel
subsidies and intra-sectoral electricity price distortions. We find that all policies can deliver a win-win situation in terms of macroeconomic variables and CO2 emissions with respect to a benchmark scenario that includes existing price distortions and no carbon taxes. The reduction of 4.6% in CO2 emissions achieved in the price reform policy experiment indicates that liberalised energy markets can help achieve its Paris Agreement target. Thus, we recommend that the government considers reforming electricity and fossil fuel price structure to foster economic development and environmental sustainability
Optimal taxation, environment quality, socially responsible firms and investors
No full textWe characterize the optimal pollution-, capital- and labour-tax structure in a continuous-time model in the presence of pollution (resulting from production), both in the first- and second-best, allowing investors to be driven by social responsibility objectives. The social responsibility objective takes the form of warm-glow, as in Andreoni (1990) and Dam (2011), inducing firms to reduce pollution through increased abatement activity. Among the results, the second-best pollution tax displays an additivity property and the Chamley–Judd zero capital-income tax can be violated under warm-glow preferences. We also show that first- and second-best pollution taxes are positive, under warm-glow preferences, and, under mild assumptions, the latter yield lower first-best pollution taxes and lower pollution intensity
Handwritten biographical information on Paulina T. McClung Merritt
No full textA handwritten biography of Paulina T. McClung Merritt by an unknown author, 1892.
Heterogeneous and tissue-specific regulation of effector T cell responses by IFN-gamma during Plasmodium berghei ANKA infection.
No full textIFN-γ and T cells are both required for the development of experimental cerebral malaria during Plasmodium berghei ANKA infection. Surprisingly, however, the role of IFN-γ in shaping the effector CD4(+) and CD8(+) T cell response during this infection has not been examined in detail. To address this, we have compared the effector T cell responses in wild-type and IFN-γ(-/-) mice during P. berghei ANKA infection. The expansion of splenic CD4(+) and CD8(+) T cells during P. berghei ANKA infection was unaffected by the absence of IFN-γ, but the contraction phase of the T cell response was significantly attenuated. Splenic T cell activation and effector function were essentially normal in IFN-γ(-/-) mice; however, the migration to, and accumulation of, effector CD4(+) and CD8(+) T cells in the lung, liver, and brain was altered in IFN-γ(-/-) mice. Interestingly, activation and accumulation of T cells in various nonlymphoid organs was differently affected by lack of IFN-γ, suggesting that IFN-γ influences T cell effector function to varying levels in different anatomical locations. Importantly, control of splenic T cell numbers during P. berghei ANKA infection depended on active IFN-γ-dependent environmental signals--leading to T cell apoptosis--rather than upon intrinsic alterations in T cell programming. To our knowledge, this is the first study to fully investigate the role of IFN-γ in modulating T cell function during P. berghei ANKA infection and reveals that IFN-γ is required for efficient contraction of the pool of activated T cells
- …
